Car loan for a vintage car
8 September 2008
Car loan lenders will often not be able to provide the best interest rate if you intend to buy a vintage car. Many car loans in which the car being purchased is used to secure the loan will not allow cars that are more than 5 years old to be used as security. This is due to the severely reduced resale value of most cars after that period of time.
As the prospects for reselling a vintage car in case you default would be quite difficult, most car loan lenders will likely offer you an unsecured personal loan as a car loan to pay for your vintage car. Shopping around using a car loan comparison page can be a good way of finding a competitive rate for your car loan.
Please visit our comparison page to compare car loans and be sure to browse our site to read about an ANZ bank car loan or a Suncorp new & used car loan.
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